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Stablecoins
A stablecoin is a token that claims to stay near a dollar. The claim depends on what it is pegged to, and on who can refuse a redemption.
Three kinds
Fiat-backed: a company says it holds bank deposits. Crypto-backed: other coins are locked, often more than the stablecoins issued. Algorithmic: a design tries to hold the price with incentives, and can fail when people leave.
The check
Who can mint it. Who can freeze an address. Where the reserves sit, and whether you can redeem. A freeze function means someone can stop your money.
Stable is a claim about price, not a claim that the issuer has your interests.
Check yourself
Does stable mean you cannot lose?
No. The peg can fail, and the issuer may be able to freeze the token.
After this you can name what the peg depends on, and whether the issuer can freeze you.